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Mar
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2017

Texas Daily Ag Market News Summary 03/15/2017

Posted 72 days ago ago by Texas Department of Agriculture

Feeder cattle auction reported higher prices; Futures higher.

Fed cattle cash trade active; Formula trades higher; Futures higher; Beef prices uneven.

Cotton prices higher.

Grains and soybeans higher.

Milk futures lower.

Crude oil higher; Natural gas higher.

Stock markets higher.

                      

 

Texas feeder cattle auctions reported prices steady to $9 higher. March Feeder cattle futures were $1.37 higher, closing at $129.22 per hundredweight (cwt). The Texas fed cattle cash was active today, closing at $127.34 per cwt. April Fed cattle futures were $1.38 higher, closing at $117.70 per cwt. Wholesale boxed beef values were uneven, with Choice grade gaining $1.18 to close at $221.32 per cwt and Select grade losing 75 cents to close at $213.14 per cwt. Estimated cattle harvest for the week totaled 341,000 up 3,000 from last week’s total and 5,000 from a year ago. Year-to-date harvest is up 1.5%.

 

Cotton prices were higher with cash prices gaining 0.50 cents to close at 76.25 cents per pound and May futures gaining 0.93 cents to close at 78.08 cents per pound.

 

Corn prices were higher with cash prices gaining a penny to close at $3.56 per bushel and May futures gaining 2 cents to close at $3.64 per bushel. Grain Sorghum cash prices closed 3 cents higher, finishing at $5.37 per cwt.

 

Wheat prices were higher with cash and May futures both gaining 4 cents to close at $3.57 per bushel and $4.47 per bushel, respectively.

 

Milk prices were lower with April Class III losing 6 cents to close at $15.66 per cwt.

 

Stock markets closed higher today, after Fed officials dropped signals that could mean they expect to raise short-term interest rates potentially two more times this year. Indicating that the U.S economy is healthy and getting stronger. April Crude oil futures were $1.14 higher, closing at $48.86 per barrel. Crude oil prices bounced back from three-month lows and a week-long losing streak as information came out showing a drop in U.S. crude oil inventory.


Help Your Fellow Texans Impacted by Panhandle Wildfires

Every day, three times a day, we depend on our farmers and ranchers, and today, these individuals are in need of our help. As you may know, devastating wildfires have burned across large swaths of the Texas Panhandle. These wildfires have had a tremendous impact on farmers, ranchers and livestock in this area. That’s why Commissioner Miller is calling on his fellow Texans to donate to the State of Texas Agriculture Relief (STAR) Fund.

 

Managed by the Texas Department of Agriculture, the STAR Fund provides emergency assistance to Texas farmers and ranchers affected by disasters like the wildfires that have burned more than 400,000 acres across several counties in the Panhandle. STAR funds help farmers rebuild fences, restore operations and pay for other ag-related disaster relief.

 

Consider helping a fellow Texan in need by donating to the STAR Fund today. Click here to make your contribution today and know that you’ll be making a difference in the lives of those who provide us with the food and fiber that sustains our lives.


 

DailyMarket News Summary Data 03/15/17

 

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